Xerox Invented the Darn Thing – Starkweather Remembered
In this cartoon, RT ImagingWorld’s Berto has pulled together a number of key news stories surrounding HP and Xerox.
Firstly there is the strategic relationship between HP and Xerox that became evident in the second half of 2019, Then there was the December 2019 death of Gary Starkweather, the inventor of the laser printer who had worked at Xerox. Then, in early 2020, the much smaller Xerox made two bids to buy HP shares to take a controlling interest of HP. There has also been commentary from various industry analysts that despite Xerox being much smaller, it has more fight in it compared with HP, which some are saying have board members that are not as focused as they could be.
In any case, Berto pulls all of that together for fun.
You’re Just Making Toys
Xerox Makes a Hostile Bid for HP
On November 25, 2019, HP’s board rejected a $22 per share takeover bid from Xerox, saying in a letter to Xerox CEO John Visentin that his company’s proposal “significantly undervalues HP.” CNN Business reported, “HP is making itself clear to Xerox: Seriously, we don’t need you.” In this latest announcement, Xerox claims to have met, “in some cases multiple times, with many of HP’s largest stockholders,” who allegedly claim are supporting Xerox’ bid which promises “enhanced returns, improved growth prospects and best-in-class human capital that will result from a combination of Xerox and HP.” Then in February, Xerox announced it would be making an increased offer of $24 per share in an attempt to control HP. In this latest “hostile” bid, Xerox claims to have met, “in some cases multiple times, with many of HP’s largest stockholders,” who allegedly claim are supporting Xerox’ bid which promises “enhanced returns, improved growth prospects and best-in-class human capital that will result from a combination of Xerox and HP.”
Berto #81: February 5, 2020: Xerox Invented the Darn Thing – Berto remembers Starkweather What is your response to this month’s Berto cartoon? Please add your comments
Last month’s Berto cartoon: Changing a Printer Cartridge – the young intern lends a hand.
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